I'm happy for these guys but is it just me or is a 5% transaction fee nuts? I know, I know, Kickstarter, Indiegogo, you name are all roughly the same, and yes, there is value in the "platform", publicity, etc. -- but you're basically just sending money from one person to another. Venmo (which is basically free) could roll out a platform like this in no time and charge 1 or 2%.

I just wonder why, in 2015, with all our technological progress and all the "innovation" in the payments space we're still tolerating really high transaction costs. /endrant